Traditionally this client had not found difficulty in obtaining funding because they were buying new or nearly new coaches which are considered good security by asset lenders.
When they wanted to buy older vehicles for local council school contracts, and install on-board CCTV cameras they encountered funding difficulties.
We were able to assist by offering a “multi layered/tiered funder approach”. Because we work with a carefully chosen panel of lenders which can facilitate a wide range of funding requirements we were able to:
1) Arrange funding for the CCTV cameras with a “niche” funder that understands the true underlying value of these assets
2) Arrange funding for several of vehicles via a lender comfortable with older vehicles
3) Arrange a “re-finance” package on some of the existing unencumbered vehicles sufficient to allow the purchase of the remaining older coaches.
Whilst we had to go to three funders the client was pleased to deal with us as “one stop shop” solution provider.